Trade surplus down 12% in May

While the trade balance in May registered a surplus of 1.2 billion dollars, the first five months of 2014 show a decline of 2.3 billion dollars, or 41 percent, in comparison to the same period of 2013, INDEC national statistics bureau informed today.

According the official report, exports showed a 16 percent fall in May, while imports sector were 17 percent down.

The INDEC revealed that cereal exports, which cover corn and wheat sales, were among the hardest hit, falling 55 percent compared to the same month last year.